It solves the ‘chicken and the egg’ problem that faces all startups, investors want to invest in companies with rapid user growth, yet user acquisition is extremely expensive (with costs increasing exponentially). As blockchain dApps start to be released in their thousands an inevitable drive for mainstream user acquisition will ensue (building unicorns takes many millions of users). RefToken will connect developers with the marketers who will promote their app in a risk free deal as affiliates will only be paid on successful user conversion (e.g. a sale, sign up or deposit).

Backers and investors in projects will always push developers to grow their user base and generate higher revenues. This is often a harsh wakeup call for technology oriented teams who have little experience in marketing and will need to rely on third parties to execute this function.

The core team has decades of experience in online gambling (on both affiliate and casino sides of the fence), RefToken was conceived bottom up as a solution to real world problems that have plagued the industry for the last 15 years, and will prove to be a classic example of blockchain tech providing an elegant solution to an old problem.

A lot of that additional funding will go to hiring more developers to expedite development. The additional funding will also allow us to add in the following modules to the platform:

Super affiliate/MLM management functionality.

An inbuilt RTB display ad platform (similar to Google’s AdSense) that will allow users to buy ad space on each other’s sites without a middleman taking the lion’s share of the revenue.

Leaderboards & competition module for merchants to incentivise affiliates to promote their brand.

Commission splitting to allow affiliates to collaborate (e.g. Affiliate A creates great content, yet is not too adept at generating traffic, whilst Affiliates B is a great SEO & C has a significant social following. Affiliate A will be able to approach B & C to offer them a percentage of the commissions raised if they distribute his. This will be done trustlessly via a smart contract on the platform.

A market where freelancers will be able to pick up copywriting, translation, design and video creation gigs in exchange for a share of commissions generated by that content.